News / Charter market calming, but open tonnage still 'as rare as hens' teeth'

ID 305649949 © Andrii Yalanskyi

The charter market is beginning to slow as those seeking tonnage take a “patient and selective approach” amid an expected demand downturn – but operators appear bullish for 2026 commitments.  

Market analyst Braemar reported today that the container time charter market had recorded a “relatively quiet week” amid the seasonal summer slowdown.  

“That said,” it added, “tonnage availability across all size segments remains extremely tight, which continues to play in favour of the owners.”

One chartered shipbroker told The Loadstar that while there was reduced activity, this was “quite normal, as owners and charterers go on their summer holiday”. 

“However, good-quality open ships are like hens’ teeth, with a lot of tonnage tied up on time charters expiring next year and beyond,” they added.  

They explained that overall, port congestion in North Europe as well as the worsening Red Sea crisis was keeping tonnage in demand. 

But shippers can hope for some relief on tight tonnage and subsequent elevated rates, said the shipbroker source, noting that for new negotiations on 2026 positions, “there is talk of some discounting”.  

And Braemar revealed that one panamax-size vessel being delivered in Q4 had reportedly been fixed to Ningbo Ocean Shipping for a two-year period at a rate of around $45,000 a day. 

“This is quite a notable fixture, as it effectively sets a new benchmark for two-year durations in this class. It has some time since we have seen a period of that length fixed at such a level,” said the analyst. 

It added that another panamax unit had also secured an extension from early 2026 for some 30 to 32 months at around $37,000 a day, “confirming that forward interest remains strong, even into 2026.”  

“A few other units with availability in Q1 26 are now also in early-stage discussions,” it said. 

The maritime analyst also revealed that one post-panamax size vessel had already “been quietly committed for a delivery in mid-2026″, although no further details have emerged so far. 

According to Braemar, when it comes to sourcing tonnage, most were now adopting a “patient and selective approach”, and “waiting for the right opportunities rather than rushing into commitments”. 

This coincides with the approaching 1 August deadline for new tariff rates from the US, postponed from 9 July, which will be a huge factor in demand levels for the rest of the year.  

“Operators appear calmer for now, as well, trying hold off on their next moves while awaiting further clarity on demand developments later in the year,” said Braemar.  

But it concluded: “All in all, while the market may appear calmer on the surface, due to the usual seasonal lull, activity remains active beneath.”

“Owners continue to benefit from the limited supply of vessels, and the chartering sentiment for the second half of the year remains positive, for now.”